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" ... discount of commercial or business paper actually owned by the person negotiating the same shall not be considered as money borrowed: Provided, however. That the foregoing limitations shall not apply to loans on real estate or other collateral securities... "
Annual Report of the Commissioner of the Banking Department of the State of ... - Page xvi
by Michigan. Banking Division - 1904
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Annual Report of the Commissioner of the Banking Department of the State of ...

Michigan. State Banking Department - 1914 - 748 pages
...money borrowed: * * * Provided, however, That by a two thirds vote of directors, the liabilities to any bank of any person or company or corporation or...exceeding one-fifth of the capital and surplus of bank: * • *" It will be noted that in the case of a company or firm the line of credit includes the...
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Annual Report of the Commissioner of the Banking Department of the ..., Volume 2

Michigan. Banking Division - 1891 - 178 pages
...further, That by a гш-шеr proviso, two.thirds vote of the directors the liabilities of any bank or any person or company or corporation or firm, may...one.fifth of the capital and surplus of the bank. SEC. 53. Any bank organized under the provisions of this Procesdings act may go into liquidation and...
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Documents Accompanying the Journal of the House, Part 1

Michigan. Legislature - 1891 - 1144 pages
...Proric'cd, further, That by a Further pro two-thirds vote of the directors the liabilities of any bank or any person or company or corporation or firm, may...one-fifth of the capital and surplus of the bank. SEC. 53. Any bank organized under the provisions of this Proceedings act may go into liquidation and...
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Public Acts and Joint and Concurrent Resolutions of the Legislature of the ...

Michigan - 1891 - 486 pages
...further, That by a two-thirds i- miner pr-wi*. vote of the directors the liabilities of any bank or any person or company or corporation or firm, may...one-fifth of the capital and surplus of the bank. This act is ordered to take immediate effect. Approved February 2fi. 1891. [ No. 11. | AN ACT to amend...
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Annual Report of the Commissioner of the Banking Department of the State of ...

Michigan. Banking Division - 1892 - 312 pages
...Provided, further, That by a Further two-thirds vote of the directors the liabilities of any bank or any person or company or corporation or firm, may be increased to a sum not excceding one-fifth of the capital and surplus of the bank. ' • SEC. 53. Any bank organized under...
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Annual Report of the Commissioner of the Banking Department of the State of ...

Michigan. Banking Division - 1894 - 344 pages
...Provided further, That by a two-thirds vote of the directors the liabilities of any bank or any pereon or company or corporation or firm, may be increased...one-fifth of the capital and surplus of the bank. SEC. 53. Any bank organized under the provisione of this act may go into liquidation and be closed...
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Acts of the Legislature of the State of Michigan, Part 2

Michigan - 1899 - 704 pages
...this act. Provided Further hoverer. That by a two-thirds vote of the directors the liabili- l'° ties of any bank of any person or company or corporation...one-fifth of the capital and surplus of the bank: Provided further, That be- Proviso *8 to fore any bank, under the supervision of the laws of this State,...
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Acts of the Legislature of the State of Michigan, Part 2

Michigan - 1905 - 754 pages
...deposited with the bank : Provided, however, That by a twothirds vote of directors, the liabilities to any bank of any person or company or corporation or...exceeding one-fifth of the capital and surplus of the bank : Provided further, That before any bank, under the supervision of the laws of this State, shall loan...
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Annual Report of the Commissioner of the Banking Department of the State of ...

Michigan. Banking Division - 1906 - 474 pages
...directors the liabilities of any bank of any person or company or corporation or firm may be inereased to a sum not exceeding one-fifth of the capital and surplus of the bank." It is evident that tbis limitation was borrowed from the National Banking Law, section 5290 of the revised statutes of...
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Annual Report of the Commissioner of the Banking Department of the State of ...

Michigan. Banking Division - 1906 - 500 pages
...the directors the liahilities of any hank of any person, or company, or corporation, or firm may he increased to a sum not exceeding one-fifth of the capital and surplus of the hank." It is evident that this limitation was horrowed from the National Banking Law, section 5200...
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